The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Pod Point Group Holdings PLC, up 3.9% at 109.61 pence, 12-month range 96.00p-291.50p. The electric car charging point operator had slumped 7.4% on Thursday after it posted a widened interim loss. The stock is recovering some of that share price slide, following a 0.9% gain on Friday.
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Alfa Financial Software Holdings PLC, up 3.0% at 154.50 pence, 12-month range 132.50p-221.00p. The software developer for the finance industry says it has struck a deal to assign its lease of a floor in a London building to its own 66% shareholder CHP Software & Consulting Ltd. Alfa has leases to floors 9, 10 and 11 at the 1 Fore Street Avenue asset in London. The ninth floor is sublet to a third party which moved out in February. ‘Alfa expects continued substantial growth in headcount in all of its locations, but having looked at its new hybrid working arrangements has concluded that it no longer requires the 9th floor,’ it says. It will reduce ongoing rent cost by £1.0 million per year, compared to a reduction of £500,000 in 2021 when just under half of the floor was sublet. Additionally, Non-Executive Director Christopher Sullivan buys 159,549 shares at £1.49, worth £238,047, on Friday.
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SMALL-CAP - LOSERS
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JPMorgan China Growth & Income PLC, down 5.7% at 370.00p, 12-month range 295.50p-599.00p. The stock tracks falls in the Chinese tech sector. Investees Tencent Holdings Ltd and NetEase Inc fall 2.4% and 0.6% in Hong Kong as Chinese tech shares weaken in a negative read-across from peer Alibaba Group Holding Ltd. Alibaba is put on a US watchlist that could see it delisted in New York if it does not comply with disclosure orders. Alibaba shares fall 3.8%. JPMorgan China recently exited its investment in Alibaba. Also hitting the investor is a poor economic reading from China. The manufacturing sector sees momentum fade in July as the Caixin purchasing managers’ index slips close to the no-change mark of 50.0. The PMI falls to 50.4 points in July from 51.7 in June, indicating just marginal growth.
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